Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) PT at $7.30

LegalZoom.com, Inc. (NASDAQ:LZ) has received a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.30.

LZ has been the subject of several research analyst reports. Wall Street Zen cut shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd. William Blair downgraded shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th.

Insider Activity at LegalZoom.com

In other news, CFO Noel Watson sold 416,371 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61. Following the completion of the transaction, the chief financial officer owned 1,491,430 shares of the company’s stock, valued at approximately $8,814,351.30. This represents a 21.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Miller sold 43,996 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.51, for a total value of $242,417.96. Following the completion of the transaction, the insider owned 976,932 shares of the company’s stock, valued at approximately $5,382,895.32. The trade was a 4.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 577,475 shares of company stock valued at $3,375,197 in the last three months. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On LegalZoom.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in LZ. Jupiter Asset Management Ltd. lifted its holdings in LegalZoom.com by 255.5% in the fourth quarter. Jupiter Asset Management Ltd. now owns 231,773 shares of the company’s stock valued at $2,302,000 after acquiring an additional 166,574 shares during the period. UBS Group AG grew its stake in shares of LegalZoom.com by 87.9% during the 4th quarter. UBS Group AG now owns 613,537 shares of the company’s stock valued at $6,092,000 after purchasing an additional 287,063 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of LegalZoom.com by 23.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock valued at $26,087,000 after purchasing an additional 500,787 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of LegalZoom.com by 187.4% in the 1st quarter. Bank of America Corp DE now owns 2,509,891 shares of the company’s stock worth $14,231,000 after purchasing an additional 1,636,487 shares during the period. Finally, Hawk Ridge Capital Management LP boosted its holdings in shares of LegalZoom.com by 48.7% in the first quarter. Hawk Ridge Capital Management LP now owns 735,929 shares of the company’s stock worth $4,173,000 after buying an additional 241,100 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

LZ opened at $5.91 on Wednesday. The stock has a market capitalization of $1.01 billion, a PE ratio of 65.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.26. The stock’s 50 day moving average price is $6.52 and its 200-day moving average price is $6.33. LegalZoom.com has a 52-week low of $5.22 and a 52-week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $205.29 million during the quarter, compared to analyst estimates of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Research analysts forecast that LegalZoom.com will post 0.32 EPS for the current fiscal year.

LegalZoom.com Company Profile

LegalZoom.com, Inc is an online platform that provides legal, compliance and business-related services to individuals, families and small businesses. The company helps customers complete common legal and administrative tasks through digital tools, guided document services and access to independent attorneys and other professionals.

Its business services include forming limited liability companies and corporations, obtaining registered-agent services, filing annual reports, managing business licenses and addressing tax-related requirements.